Xmet has released additional drilling results from a recent 2011 program conducted at the Shaft zone.
The company has intersected 0.15 g/t gold over 1.2 m in hole DO-11-53, 3.65 g/t gold over 4.0 m in hole DO-11-54, 0.15 g/t gold over 1.9 m in hole DO-11-58, 0.44 g/t gold over 3.6 m in hole DO-11-59, 3.4 g/t gold over 4.35 m in hole DO-11-60, 4.4 g/t gold over 4.9 m in hole DO-11-61. No significant results have been encountered in the holes DO-11-56 and DO-11-57.
High-grade mineralized gold that was identified on the surface has been vertically expanded to 130 m depth beneath the surface. This gold mineralization stays exposed at depth to additional expansion.
According to Charles Beaudry, Xmet’s COO and President, the latest drilling assays have shown the mineralized gold continuity at the Shaft zone. The early drilling results were re-analyzed as a result of the company’s 2011 trenching program. The results of drilling and surface trenching program jointly show excellent mineralization continuity over 125 m of strike length from surface to at least 130 m in depth. The current resource has to be expanded at the Shaft zone, Beaudry said.
The company has planned the 2012 drilling program in order to vertically expand the zone to at least 200 m and to associate with historic hole DQ-95-16. Xmet has started the phase I drilling of 2012, totaling 5,850 m, at the Duquesne-Ottoman property using a rig. The company will continue the drilling until the spring season.